Financial-transactions tax: a new threat to traders

January 15, 2009 | By: Robert A. Green, CPA

A potential new “financial-transaction tax” assessed on trading transactions would significantly increase taxes on traders. Imagine breaking even for the year and having to pay a $50,000 tax (0.25 percent tax times $10 million of sales proceeds and $10 million of purchases). Don’t sit idly by and allow pundits and members of Congress denigrate traders, lumping them into the “sintax” category. Online trading is a valued profession and it’s time to demand respect and defend your (tax) rights!

Click here to read Robert A. Green’s first article on this controversial subject (PDF, 15 pages).